Intel has agreed to purchase Israeli quantum software firm Classiq Technologies Ltd. to scale its hardware ecosystem.
- Intel Corp. has reached an agreement to acquire Israeli startup Classiq Technologies Ltd. to scale its presence in the developing commercial quantum computing sector.
- The transaction strengthens Intel’s hardware initiatives, turning its Quantum Computing Group into a full-stack operation and simplifying device deployment.
- Classiq will continue aiding clients with code compatible across multiple hardware platforms—including those from Intel rivals.
Intel Corp. (INTC) is vying to push deeper into quantum computing by buying Israeli software firm Classiq Technologies Ltd.
Financial terms of the transaction were not disclosed by Intel, which timed the announcement ahead of its upcoming third-quarter earnings report on Thursday.
Classiq, founded in 2020, specializes in building code and artificial intelligence tools that let businesses test quantum applications across various hardware architectures. Its enterprise roster includes major brands like automaker BMW AG and telecom firm AT&T Inc (T).
“Joining forces with Classiq transforms Intel’s Quantum Computing Group into a full-stack quantum computing business,” Intel Chief Executive Officer Lip-Bu Tan said in a statement.
INTC stock ended Monday 4% higher and extended gains by 1% after-hours.
Lip-Bu Tan’s Quantum Plans
The strategic buyout arrives as Intel works to mend its financial health under Tan’s leadership and claw back ground lost to competitors in artificial intelligence processing. Having once reigned as the globe’s top chipmaker, the company is looking to secure an early footprint in emerging markets like quantum computing.
Classiq, which has accumulated over $200 million in venture funding and employs roughly 130 people, will maintain its software flexibility. The startup will continue helping customers engineer code that operates on multiple hardware variants, even those provided by Intel competitors.
“Classiq has focused on making quantum computing practical and accessible by enabling developers, researchers and enterprises to create scalable quantum applications without requiring deep expertise in quantum circuit design,” said Nir Minerbi, co-founder and chief executive officer of Classiq. “Together, Intel and Classiq can help unlock the benefits of quantum computing and accelerate its adoption sooner.”
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